- The Litecoin price is marginally up during the ongoing session, as buyers look to push the price to $155.
- LTC had started the week on a highly bearish note, dropping by over 9% on Monday.
The Litecoin price continued to push higher during the ongoing session, as buyers looked to push the price to $155. LTC had started the week on a hugely bearish note, as the price slumped by over 9% on Monday, dropping to $144.59. However, the price recovered on Tuesday, rising to $150.52 after an increase of over 4%. Wednesday saw another increase, with LTC moving to $153.59, with another marginal increase during the ongoing session.
Litecoin Price Chart Indicates Buyers Looking To Push Price To $155
The Litecoin price chart started the previous week on a positive note, posting an increase of over 3% on Monday. LTC continued to push up on Tuesday, registering a marginal increase of 0.35% before rising by 1.90% on Wednesday and settling at $165.19. Despite the bullish start to the week, LTC fell back on Thursday, dropping by over 8% and settling at $151.69. A drop of 2.02% saw the price slip below $150 on Friday when it dropped to $148.62.
Image: LTC/USD daily
After dropping to $148.62 on Friday, the Litecoin price pushed up over the weekend, rising by over 6% on Saturday and then by 0.74% on Sunday to end the weekend at $159.55. However, LTC was back in the red on Monday, dropping by over 9% and settling at $144.59. The price recovered on Tuesday, rising by over 4% on Tuesday and then rising to $153.59 on Wednesday, registering an increase of just over 2%. The current session sees buyers and sellers struggling for control, with the Parabolic SAR currently bearish.
Looking at IntoTheBlock’s IOMAP for the Litecoin price, we can see that LTC has strong support at around $151.07. At this price level, over 190,000 addresses have bought more than 5 million LTC.
The 4-hour Litecoin price chart shows us that LTC had dropped to $148.45 on the 11th. The price pushed up significantly from this level, pushing above the 20-bar SMA and settling at $158,76. With the 50-bar SMA acting as resistance at this level, LTC could only move past it on the 12th, when it rose to $160.83. However, the price turned bearish after reaching this level and fell back significantly, dropping back below the 20 and 50-bar SMAs to $144.61. The price recovered from this level, rising to $151.56, but could not move past the 20-bar SMA and dropped to $142.49. LTC then pushed above the 20-bar SMA and moved to its current level of $153.
We can see that the MACD and Parabolic SAR are bullish, indicating that we could see the price rise.
Image: LTC/USD 4-hour
Litecoin Price Is Expected To Reach These Levels
Looking at the Litecoin price chart, we can see that the current session sees buyers and sellers vying for control. If buyers take control, we could see LTC move to $155, but if sellers retain control, LTC could drop to its support level of $151.